Captrust Financial Advisors Sells 22,251 Shares of Old National Bancorp (NASDAQ:ONB)

Captrust Financial Advisors lessened its position in Old National Bancorp (NASDAQ:ONB) by 22.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,583 shares of the bank’s stock after selling 22,251 shares during the period. Captrust Financial Advisors’ holdings in Old National Bancorp were worth $1,662,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Sanctuary Advisors LLC grew its position in shares of Old National Bancorp by 1.4% in the 4th quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank’s stock valued at $762,000 after acquiring an additional 432 shares during the period. Mariner LLC boosted its holdings in shares of Old National Bancorp by 0.9% during the 4th quarter. Mariner LLC now owns 57,744 shares of the bank’s stock worth $1,253,000 after buying an additional 509 shares during the period. Covestor Ltd boosted its holdings in shares of Old National Bancorp by 13.6% during the 4th quarter. Covestor Ltd now owns 4,365 shares of the bank’s stock worth $95,000 after buying an additional 524 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Old National Bancorp by 3.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank’s stock worth $356,000 after buying an additional 615 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares during the period. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

NASDAQ ONB opened at $22.45 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $7.18 billion, a P/E ratio of 13.36 and a beta of 0.85. Old National Bancorp has a 12-month low of $15.60 and a 12-month high of $24.49. The firm has a 50-day moving average price of $20.44 and a two-hundred day moving average price of $21.71.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The firm had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million. Analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 32.56%.

Analyst Ratings Changes

ONB has been the subject of several research analyst reports. Royal Bank of Canada reduced their target price on shares of Old National Bancorp from $26.00 to $23.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Stephens reaffirmed an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a report on Monday, April 14th. Barclays reduced their target price on shares of Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Truist Financial assumed coverage on shares of Old National Bancorp in a report on Tuesday. They set a “buy” rating and a $26.00 target price for the company. Finally, Citigroup cut their price objective on shares of Old National Bancorp from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $25.67.

Old National Bancorp Company Profile

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.